JPMorgan Chase & Co. Reduces Position in Intapp, Inc. (NASDAQ:INTA)

JPMorgan Chase & Co. trimmed its position in shares of Intapp, Inc. (NASDAQ:INTA - Free Report) by 67.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 141,518 shares of the company's stock after selling 298,735 shares during the period. JPMorgan Chase & Co. owned approximately 0.18% of Intapp worth $6,769,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Franklin Resources Inc. raised its position in shares of Intapp by 28.4% during the 3rd quarter. Franklin Resources Inc. now owns 456,619 shares of the company's stock valued at $22,173,000 after buying an additional 100,982 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in Intapp during the third quarter worth approximately $64,000. Sanctuary Advisors LLC purchased a new stake in Intapp during the third quarter valued at approximately $239,000. Virtu Financial LLC bought a new stake in shares of Intapp in the 3rd quarter valued at approximately $609,000. Finally, Geode Capital Management LLC boosted its holdings in shares of Intapp by 9.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,051,237 shares of the company's stock worth $50,291,000 after purchasing an additional 95,035 shares during the period. 89.96% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Intapp news, CEO John T. Hall sold 44,009 shares of the stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $59.30, for a total transaction of $2,609,733.70. Following the completion of the sale, the chief executive officer now directly owns 5,093,692 shares of the company's stock, valued at approximately $302,055,935.60. This represents a 0.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Ralph Baxter sold 9,289 shares of the firm's stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $70.14, for a total transaction of $651,530.46. Following the completion of the sale, the director now owns 9,441 shares in the company, valued at $662,191.74. This represents a 49.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 402,624 shares of company stock valued at $24,954,154 over the last 90 days. Corporate insiders own 13.02% of the company's stock.

Intapp Trading Down 0.9 %

Shares of Intapp stock traded down $0.60 during trading on Thursday, hitting $66.38. 562,106 shares of the stock traded hands, compared to its average volume of 625,388. The stock's fifty day simple moving average is $63.53 and its 200 day simple moving average is $50.14. The firm has a market cap of $5.14 billion, a P/E ratio of -228.90 and a beta of 0.73. Intapp, Inc. has a 52-week low of $30.36 and a 52-week high of $71.34.

Intapp (NASDAQ:INTA - Get Free Report) last posted its earnings results on Monday, November 4th. The company reported $0.21 EPS for the quarter, beating analysts' consensus estimates of $0.13 by $0.08. Intapp had a negative net margin of 4.74% and a negative return on equity of 2.08%. The business had revenue of $118.81 million for the quarter, compared to the consensus estimate of $117.88 million. During the same quarter last year, the firm posted ($0.20) EPS. The company's revenue for the quarter was up 17.0% on a year-over-year basis. As a group, equities analysts expect that Intapp, Inc. will post -0.14 EPS for the current year.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Citigroup restated a "neutral" rating and set a $78.00 price target (down previously from $87.00) on shares of Intapp in a report on Thursday. Truist Financial lifted their price target on shares of Intapp from $55.00 to $77.00 and gave the stock a "buy" rating in a research note on Friday, December 13th. Piper Sandler reaffirmed an "overweight" rating and set a $60.00 target price (up previously from $46.00) on shares of Intapp in a research note on Tuesday, November 5th. JPMorgan Chase & Co. raised their price target on Intapp from $58.00 to $75.00 and gave the stock an "overweight" rating in a research note on Monday, December 9th. Finally, Raymond James reiterated a "market perform" rating on shares of Intapp in a research note on Friday, January 3rd. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $59.82.

About Intapp

Intapp, Inc, through its subsidiary, Integration Appliance, Inc, provides industry-specific cloud-based software solutions for the professional and financial services industry in the United States, the United Kingdom, and internationally. Its solutions include DealCloud, a deal and relationship management solution that manages financial services firms' market relationships, prospective clients and investments, current engagements and deal processes, and operations and compliance activities; collaboration and content solutions, including Intapp documents, an engagement-centric document management system, and Intapp workspaces; risk and compliance management solutions, such as Intapp conflicts, Intapp intake, Intapp terms, Intapp walls, and Intapp employee compliance; and operational and financial management solutions comprising Intapp Billstream, a cloud-based automated proforma invoice solution, Intapp time, and Intapp terms.